A Pakistani businessman charged with triple murder has been denied bail by a High Court in Durban, South Africa, on the grounds that he was a "flight risk".

Wassim Haider Agha, 45, is accused of masterminding the execution-style killing of his pregnant wife, Anisa Sukan, their eight-month-old daughter Zil and Anisa's father, Anand Sukan in Wesrville in March. Agha is alleged to have hired his former employee, Bonginkosi Ndlovu, to carry out the killings.

High Court judge Herbert Msimang on Sunday upheld a Durban magistrate's decision to deny bail to Agha on the ground that he was a "flight risk."

Agha, who reportedly stands to gain over Rand 20 million (nearly Rs 16 crore) in life insurance policies taken out in favour of his slain wife and child, had reportedly put in a written claim for the money shortly before his arrest at Durban's International Airport in July.

Haider, who will remain in custody for another four months as his trial begins in February, is also charged with stealing diamonds valued at Rand 500,000, or over Rs 37 lakhs.